Jingvest Development: Proposes to transfer real estate development business-related assets and liabilities to controlling shareholder

JingTou Development announced on March 15th that the company plans to transfer assets and liabilities related to its real estate development business to Beijing Infrastructure Investment Co., Ltd. (referred to as “Jingtou Company”). The transaction will be paid in cash and does not involve issuing shares, nor will it affect the company’s equity structure or result in a change of the company’s controlling shareholder. Based on preliminary research and calculations, this transaction is expected to constitute a major asset restructuring as defined by the “Administrative Measures for Major Asset Restructuring of Listed Companies.” The counterparty to this transaction is the company’s controlling shareholder.